Senators Reach Student Loan Interest Rate Deal

Comes a day after legislators met with Obama


WASHINGTON—A bipartisan group of senators reached a deal Wednesday evening to offer college students better rates on loans this fall but higher rates in future years.

The agreement comes one day after lawmakers met with President Obama at the White House.

The Senate deal would offer students lower interest rates through the 2015 academic year, but then rates would likely climb higher than they were when students left campus this spring.